Industry
Hyundai Merchant mulls bid for Hanjin Shipping's lucrative route
Oct. 18, 2016
Hyundai Merchant Marine Co., South Korea's No. 2 shipper, is considering bidding for its bigger local rival Hanjin Shipping Co.'s Asia-US route, industry sources said Tuesday.According to the sources, Hyundai Merchant, currently under a creditor-led debt restructuring scheme, is planning to submit a preliminary bid for Hanjin Shipping's route, seen as the most lucrative, and ships that are up for sales.Last week, part of cash-strapped Hanjin Shipping Co.'s assets went up for sale as the company